Underlying profits rose 30% to US$16.6mln while revenues were 52% better at US$58.9mln after a number of service business acquisitions over the year.

FFI expects underlying profits to rise to between US$20-22mln this year, but this was below house broker Liberum’s expectations.

The broker has cut its price target to 91p from 110p and reduced its profits forecast for the year to US$21mln.

Steve Ransohoff, FFI’s chief executive, said the company had achieved its strategic goals in 2017 despite the headwinds while streaming content from such as Netflix and Amazon was providing new opportunities for the company.

“Cello Health is successfully building its early stage asset development advisory platform for biotech clients, as well as growing its core later stage and post-launch franchise with pharmaceutical clients”

FFI is the world leader in the provision of completion contracts to the entertainment industry for films, television, mini-series and streaming product. FFI was founded in London in 1950 and is now headquartered in Los Angeles in the USA, with 11 offices...

FFI is the world leader in the provision of completion contracts to the entertainment industry for films, television, mini-series and streaming product. FFI was founded in London in 1950 and is now headquartered in Los Angeles in the USA, with 11 offices globally including in London, Stockholm, Toronto, New York, Johannesburg, Cologne and Shanghai. Over the last 67 years, FFI has provided the financiers of film and television productions with contracts that such productions will be completed on time, on budget and to a basic pre-agreed specification.